AC 04-25-2022 AgendaCITY OF CUPERTINO
AUDIT COMMITTEE
AGENDA
10300 Torre Avenue, City Hall Conference Room A
Monday, April 25, 2022
4:00 PM
Members of the public wishing to comment on an item on the agenda may do so in the
following ways:
1) E-mail comments by 2 p.m. on Monday, April 25 to the Committee at
AuditCommittee@cupertino.org. These e-mail comments will be received by the
commission members before the meeting and posted to the City’s website after the
meeting.
ROLL CALL
ORDERS OF THE DAY
APPROVAL OF MINUTES
1.Subject: Approve Minutes of Regular Meeting on February 24, 2022
Recommended Action: Approve Minutes of Regular Meeting on February 24, 2022
A - Draft Minutes
2.Subject: Approve Minutes of Regular Meeting on March 28, 2022
Recommended Action: Approve Minutes of Regular Meeting on March 28, 2022
A - Draft Minutes
POSTPONEMENTS
ORAL COMMUNICATIONS
This portion of the meeting is reserved for persons wishing to address the Committee on any matter
within the jurisdiction of the Committee and not on the agenda. Speakers are limited to three (3)
minutes. In most cases, State law will prohibit the Commission from making any decisions with respect
to a matter not on the agenda.
PUBLIC HEARINGS
OLD BUSINESS
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Audit Committee Agenda April 25, 2022
NEW BUSINESS
3.Subject: Consider receiving OPEB & Pension Section 115 Trust Performance Report for
Quarter Ending March 31, 2022
Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report
for Quarter Ending March 31, 2022
A - OPEB & Pension Section 115 Trust Performance Report for Quarter Ending March 31, 2022
4.Subject: Consider reviewing Treasurer's Investment Report for Quarter Ending March
31, 2022 and moving forward accept monthly investment reports to comply with the
City's municipal code
Recommended Action: Review and consider accepting Treasurer's Investment Report
for Quarter Ending March 31, 2022 and moving forward accept monthly investment
reports to comply with the City's municipal code
Staff Report
A - Treasurer's Investment Report for Quarter Ending March 31, 2022
5.Subject: Review and consider accepting City Investment Policy
Recommended Action: Review and consider accepting City Investment Policy
Staff Report
A - Investment Policy (redline)
B - Chandler Investment Policy Statement Review Memo
6.Subject: Consider receiving report on Interim Audit and AUP Engagements
Recommended Action: Receive report on Interim Audit and AUP Engagements and
provide direction
7.Subject: Consider receiving follow-up on Previous Fiscal Year Management Letter
Items and Management Responses
Recommended Action: Receive follow-up on Previous Fiscal Year Management Letter
Items and Management Responses
A - Cupertino Management Letter 2021 Draft
B - Cupertino Single Audit 2021 Draft
8.Subject: Consider reviewing Monthly Treasurer's Report for March 2022
Recommended Action: Review Monthly Treasurer's Report for March 2022 and
recommend filing with City Council
Staff Report
A - Report of City-wide Receipts, Disbursements, and Cash Balances March 2022
B - Report of City-wide Fund Balances March 2022
9.Subject: Consider receiving Audit Committee 2022 Schedule and Work Plan
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Audit Committee Agenda April 25, 2022
Recommended Action: Receive Audit Committee 2022 Schedule and Work Plan and
provide direction
A - Proposed Audit Committee 2022 Schedule and Work Plan - 4.25.2022
STAFF AND COMMITTEE REPORTS
FUTURE AGENDA SETTING
ADJOURNMENT
In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this
meeting who is visually or hearing impaired or has any disability that needs special assistance should
call the City Clerk's Office at 408-777-3223, at least 48 hours in advance of the meeting to arrange for
assistance. In addition, upon request, in advance, by a person with a disability, meeting agendas and
writings distributed for the meeting that are public records will be made available in the appropriate
alternative format.
Any writings or documents provided to a majority of the members after publication of the agenda will
be made available for public inspection. Please contact the City Clerk’s Office in City Hall located at
10300 Torre Avenue, Cupertino, California 95014, during normal business hours.
IMPORTANT NOTICE: Please be advised that pursuant to Cupertino Municipal Code section
2.08.100 written communications sent to the Cupertino City Council, Commissioners or City staff
concerning a matter on the agenda are included as supplemental material to the agendized item. These
written communications are accessible to the public through the City’s website and kept in packet
archives. Do not include any personal or private information in written communications to the City
that you do not wish to make public, as written communications are considered public records and will
be made publicly available on the City website.
Members of the public are entitled to address the members concerning any item that is described in the
notice or agenda for this meeting, before or during consideration of that item. If you wish to address the
members on any other item not on the agenda, you may do so during the public comment .
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